Flexible Spending Account

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What is the advantage of using a Flexible Spending Account?

Flexible Spending Accounts are a great way to reduce your taxable income, which helps to lower the taxes you pay at the end of the year. Sysco offers three different Flexible Spending Accounts (FSAs).

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How do I know how much money to put into a Flexible Spending Account?

Many people shy away from FSAs because they are unsure of how much money to put into the account. The amount of money is even more important because any funds not used are lost at the end of the year, therefore it is a “use it or lose it” model. So the best approach, especially in the first years of usage, is to start cautiously.

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What are the different types of Flexible Spending Accounts?

There are three kinds of FSAs—Health Care, Limited Use and Dependent Day Care.

The Health Care FSA is used to reimburse you for eligible medical, dental and vision care for yourself, your spouse and your dependent child(ren).

The Limited Use FSA is only available to associates who are enrolled in the HSA medical plan. Due to IRS rules, the money set aside in this account can only be used for dental and vision costs. The Health Savings Account (HSA) attached to your HSA medical plan can be used for your medical expenses.

The Dependent Day Care FSA is used to reimburse you for day care or day camp for children under the age of 13, care for tax-dependent elders or other expenses you pay, so you and your spouse can work.

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The 2018 Wellness Rewards Program window ended on November 1, 2017. If you and your spouse completed the requirements by November 1, 2017, and earned your Wellness Reward for 2018, your reward will be deposited in your healthcare expense account in January 2018! Don’t be concerned if your Wellness Reward amount is not displayed in the enrollment system on the Total Rewards Café in 2017. Your 2018 Wellness Reward amount will not appear in the system until January 2018.

Please note: If you and your spouse completed the requirements early — by October 1, 2017 — and did not choose to receive your reward a different way during 2018 Benefits Enrollment, you will receive your reward as a credit to the medical plan premium taken from your paycheck each pay period in 2018.

Watch for information about the 2019 Wellness Rewards Program coming soon!